Royal London has introduced a series of changes to its underwriting limits in a bid to grow its market share of high net worth (HNWI) clients.
The mutual said the changes, available from today, focus on enhancing the underwriting journey and making Royal London easy to do business with for both advisers and their clients.
It added that in the 12 months since it announced the acquisition of Aegon UK’s individual protection line of business, Royal London has increased its focus on the large case market.
The period has also seen the mutual insurer bolster its specialist team dedicated to supporting advisers with high net worth cases, increasing the overall team by 50% and appointed Mark Preston as service delivery manager with responsibility for large cases.
Craig Paterson, chief underwriter at Royal London, (pictured) said: “Financial underwriting remains an important component of higher sum assured business, but the process should support the cover being applied for, not be a barrier to sale.
“The changes we’ve introduced should improve our speed to offer, conversion rates and make Royal London even easier to do business with.
“High net worth clients typically have sophisticated financial needs and are looking for high levels of cover, so it’s vital that our proposition meets their needs and processing their business is as efficient as possible.”
